IRA GIFT

A Special Opportunity for Those 70½ Years Old and Older

You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as LCUW without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit. This popular gift option is commonly called the IRA Charitable Rollover or Qualified Charitable Distribution (QCD).

If you are 70½ or older, you now have the option to fund your gift annuity with IRA assets. You may make a one-time election for a QCD of up to $50,000 (without being taxed on the gift). While there is no charitable deduction for a gift from your IRA assets, it is free of federal income tax and is excluded from your gross income. If you are required to take minimum distributions, you can satisfy all or part of that obligation. This option is only available for you and/or your spouse, and all payments are taxed as ordinary income.

Why Consider This Gift?

• Your gift will be put to use today, allowing you to see the difference your donation is making.
• Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required
  minimum distribution (RMD).
•  You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax
  deduction, so you benefit even if you do not itemize your deductions.
• Since the gift doesn’t count as income, it can reduce your annual income level. This may help
  lower

DONOR ADVISED FUNDS (DAFs)

A DAF is like a charitable savings account, giving you the flexibility to recommend how much and how often you grant money to LCUW. DAFs are the fastest-growing charitable giving vehicle in the United States because they are one of the easiest and most tax-advantageous ways to give to charity. Giving through a DAF allows you to be flexible in your charitable giving decisions, as the timing of the tax deduction can be separate from the recommendation to support a specific charity. When you make a donation to a donor-advised fund, you are generally eligible for an immediate tax deduction. You can then recommend grants to IRS-qualified 501(c)(3) public charities (including LCUW) at time periods you determine makes the most sense for you.

When you recommend a gift to LCUW through your DAF, you will need the following information:

• LCUW’s legal name is: Livingston County United Way.
• Our Federal Tax ID # (EIN) is: 38-2174453

QUESTIONS?

If you have any questions, or wish to learn more about the impact your donation will have in your
community, please contact (810) 494-3000 or email, lcuw@lcunitedway.org.